Personal Loan

You can get a personal loan online instantly, of up to Rs. 40 lakh with minimal documentation and simple eligibility criteria. Choose from our three unique variants of personal loan and repay it comfortably over the longer tenures ranging up to 96 months. Apply now and get the funds you need to manage your big or small expenses.

Personal Loan EMI Calculator

Plan your EMI outflow with ease. Use our personal loan EMI calculator to calculate your personal loan EMI and interest payable.

Features and benefits of our personal loan

• 3 unique variants Pick the loan variant that suits you best: Term loan, Flexi Term Loan, and Flexi Hybrid Loan.
• No part-prepayment charge on Flexi Loans Repay a part of your loan in advance, at no extra cost. You can part-pay as many times as you want. Read about Flexi Loans
• Loan of up to Rs. 40 lakh Manage your small or large expenses with loans ranging from Rs. 20,000 to Rs. 40 lakh.
  
• Approval in just 5 minutes Complete your entire application online from the comfort of your home or wherever you are and get an instant personal loan with fast approval.
  
• Money in your account in 24 hours* Your bank account will be credited with your loan amount within 24 hours* or, in some cases, on the same day of approval.
• No hidden charges All the personal loan fees and charges are mentioned clearly on this page itself and also on our loan documents. We advise you to read these in detail before applying.
• No guarantor or collateral needed You do not need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.

*Terms and conditions apply

Still have not found what you are looking for? Click on any of the links at the bottom of this page.

A loan for all your goals

An instant personal loan online comes with freedom of usage, and you can utilise these personal loans to manage a wide range of expenses, such as:

• Pursuing higher education can take a toll on expenses, despite an education loan. Use a personal loan for higher education to cover the costs of travel, tuition, extra courses, accommodation, and so on.
• With hassle-free application and quick disbursal, a personal loan for medical emergency can help you focus on the situation at hand without worrying about managing the expenses.
• A personal loan for wedding can come in handy when you need funds in bulk for expenses such as booking the venue, and making other vendor payments.
• Fixing a leaky roof or redoing your kitchen can be big expenses. Using our personal loan for home expenses, you can make your house functional and comfortable without emptying your savings fund.

Eligibility criteria and documents required

Anyone can apply for our personal loan online, as long as you meet five basic criteria mentioned below. If you meet all the eligibility criteria of our online personal loan, you will need a set of personal loan documents to complete your application process. With our online personal loan application, you can get an instant approval for up to Rs. 40 lakh. Meet the easy personal loan eligibility parameters and complete your basic documentation to avail the money you need within 24 hours* of approval.

• Nationality: Indian
• Age: 21 years to 80 years*.
• Employed with: Public, private, or MNC.
• CIBIL Score: 685 or higher.
• Customer profile: Self-employed or Salaried

• KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
• PAN card
• Employee ID card
• Salary slips of the last 3 months
• Bank account statements of the previous 3 months
• Utility bill of electricity and piped gas

*You should be 80 years* or younger, at the end of the loan tenure.

How to apply for a personal loan online?

Step-by-step guide to apply for a personal loan

1. Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
2. Enter your 10-digit mobile number and the OTP sent to your phone.
3. Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
4. Now, click on ‘PROCEED’ to visit the loan selection page.
5. Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
6. Choose the repayment tenure – you can select tenure options of 6 months to 96 months and click on ‘PROCEED’.
7. Complete your KYC and submit your application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

• Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
• Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
• Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
• Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
• Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
• Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
• Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
• Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
• Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the Flexi charges above are inclusive of applicable taxes

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

Rs. 700 - Rs. 1,200 per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

Full pre-payment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part pre-payment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment.
• Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid .

*Foreclosure will be processed post clearance of first EMI

Penal charge

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.

Broken period interest / Pre-monthly Instalment interest

Broken Period Interest/Pre-monthly instalment Interest" shall mean the amount of interest on loan for the number of day(s) which is (are):

Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan.

Method of recovery of Broken Period Interest/pre-monthly instalment interest:

• For Term Loan: Deduct from disbursement or added in first EMI, as applicable.
  
• For Flexi Term Loan: Added to first instalment amount.
  
• For Hybrid Flexi Loan: Added to first instalment amount.
  

Scenario 2: Less than period of 30 (thirty) days from the date of disbursement of the loan, interest on first instalment will be charged for actual number of days.

Up to 1.18% of the loan amount (inclusive of applicable taxes).

Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be applicable.

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

For Micro Finance Loans, please note below:

Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 32%, and 35.40% per annum respectively. Part-prepayment and foreclosure charges are NIL.

Our Flexi loan variants

Flexi Hybrid Loan

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged only on the amount utilised.

Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

No part-prepayment charges.

Nominal Flexi charges applicable.

Flexi Term Loan

Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration.

Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Fixed EMIs only on the withdrawn amount.

No part-prepayment charges.

Nominal Flexi charges applicable.

There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through regular EMIs, comprising both principal and interest.

Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

Nominal part-prepayment charges applicable.

No Flexi charges.

Frequently asked questions

A personal loan is a type of credit facility that you can avail of to pay your financial obligations without providing any kind of security or collateral. These online loans are provided without end-use restrictions; thus, they can be used for a variety of purposes. Whether it's a medical emergency, a home renovation, or a wedding, a personal loan can be an excellent way to manage your expenses. You can get a personal loan of up to Rs. 40 lakh with minimal documentation and an easy loan application process.

What is the annualised rate of interest and repayment tenure of personal loan offered by Bajaj Finance Limited?

The annualised rate of interest (% p.a.) is the cost that the borrower must pay for money borrowed from the lender. The interest is payable on principal loan amount basis the loan tenure opted. Bajaj Finance Limited offers personal loans with an annualised interest rate ranging from 11% to 32% p.a. which can be repaid over tenures between 6 months to 96 months.

For instance, Priya took a personal loan of Rs. 1 lakh at an annualised interest rate of 15% p.a. for a tenure of 12 months. In this scenario, Priya’s annual interest payable will be around Rs. 8,310 and her monthly EMI shall be around Rs. 9,026. Here, she will be repaying around Rs. 1,08,310 in total during the loan tenure towards principal and interest component, apart from other charges applicable, if any.

*Terms and conditions apply.

You can take a Bajaj Finserv Personal Loan for several scenarios such as:

• Medical emergency
• Wedding
• Higher education
• Home expenses

Our instant personal loan comes with no end-use restrictions, allowing you to meet a wide variety of expenses comfortably. Getting an emergency loan online can help you manage difficult situations without worrying about finances.

To get a quick personal loan, you only need to meet a few basic personal loan eligibility criteria:

• You must be between 21 years and 80 years* of age
• You must be a salaried individual employed with an MNC, public or private company
• You must be a residing citizen of India
• If you meet the salary requirement based on your city of residence, you can qualify for the loan.
• You will be asked to submit the following documents to get a personal loan from Bajaj Finserv:
• Passport-size photographs
• KYC documents – Aadhaar, PAN, voter’s ID, driving licence, passport
• Bank account statements for the previous 3 months
• Salary slips for the last 3 months

*Terms and conditions apply

The ideal credit score to get instant paperless approval for the best personal loan in India differs from lender to lender. A CIBIL Score of 685 and above is required to get a Bajaj Finance Personal Loan.

You can borrow up to Rs. 40 lakh Inclusive of insurance premium, VAS charges, Flexi fees, and processing fees without pledging any collateral.

You can use our personal loan EMI calculator to compute the monthly instalment and tenure that suits your budget. You only need to enter the amount you need to borrow, the interest rate, and the tenure to get an estimate of the EMI. If you are considering different types of loans, you can also use our generic EMI calculator to get estimated EMIs.

With Bajaj Finance Limited, you can expect instant approval on your personal loan application.

You can repay your personal loan in the form of EMIs (equated monthly instalments). Here, a fixed amount is automatically deducted from your bank account every month. You can set up a NACH mandate with your bank to pay the EMIs.

Lenders provide an interest rate when you opt for a personal loan. The personal loan interest rate depends on several factors including CIBIL Score, income, debt-to-income ratio, employment stability etc. Once you know the interest rate, you can use the interest calculator to know your EMI outflow.

With a Bajaj Finance Personal loan, you get the benefit of instant approval and quick disbursal. All you need to do is apply for a quick loan online by filling out the application form with your basic details. The personal loan amount will be approved once you meet the required eligibility criteria.

Here are some reasons to choose the Bajaj Finserv Personal Loan:

• Loan amount of up to Rs. 40 lakh
• Flexible tenures of up to 96 months
• Money in your account within 24 hours* of approval
• No guarantor or collateral needed
• No hidden charges

*Terms and conditions apply.

Processing fees are charges that are usually levied on the total loan amount sanctioned. Bajaj Finance Ltd charges up to 3.93% of the loan amount (inclusive of applicable taxes).

For instance, Rohit has taken a Personal Loan amount of ₹1,00,000 with a processing fee of 3.93% (₹3930). The total amount shown during the application will be Rs. 1,03,930 and the final disbursed amount: Rs. 1,03,930 – Rs. 3,930 = Rs. 1,00,000. The processing fee is added to the loan amount upon application and deducted at the time of disbursal.

Note: This is an estimate; the processing fees may vary depending on the product.

A personal loan is one of the easiest online credit options available. You can avail of a Bajaj Finserv Personal Loan of up to Rs. 40 lakh if you meet the eligibility criteria mentioned below:

• Nationality: India
• Age: 21 years to 80 years*.
• Employed with: Public, private, or MNC.
• CIBIL score: 685 or higher.

*You should be 80 years* or younger, at the end of the loan tenure.
You can also check your pre-approved loan offer and get funds instantly.

If you are looking for a best personal loan in India, there are numerous ways to get instant personal loan. Bajaj Finance Limited offers personal loans with features such as minimal documentation, Flexi variants and quick disbursal. Here is how to get a loan online:

• Visit the personal loan page and click on ‘APPLY’
• Enter your 10-digit mobile number and OTP.
• Fill in the application form with your basic details and ‘PROCEED’
• Enter the loan amount and tenure that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
• Complete your KYC and submit your application.

To choose the best personal loan in India, compare interest rates, processing fees, and tenure across multiple lenders. Assess your credit score and eligibility. Consider hidden charges, repayment flexibility, and customer reviews. There are many personal loan finance companies, but you should opt for a reputable lender with favourable terms and transparent policies that align with your financial needs and capabilities.

While the personal loan eligibility calculator provides an estimate of your loan eligibility based on your income, credit score, and other factors, approval is subject to the lender's discretion and additional criteria such as employment status and existing debts.

A Flexi day-wise interest calculator helps borrowers understand the interest accrual and repayment dynamics of Flexi Loan products, enabling them to manage their finances efficiently and optimise interest costs.

Getting instant loan without documents online may only be possible in case you have a pre-approved offer from the lender. You need to meet the requirements to get a loan without documents based on your existing relationship with the lender.

Yes, stamp duty on personal loan agreement is applicable as follows:

Stamp duty (as per respective state): Payable as per state laws and deducted upfront from loan amount.

Since our personal loan is unsecured, it is a loan without security. You do not have to pledge collateral such as property or gold to get our personal loan.

A personal loan balance transfer involves transferring your existing personal loan to another lender offering lower interest rates or better terms, reducing your overall interest burden and monthly EMI. This helps in saving money and improving loan manageability.